Jupiter Bioscience soared 4.01% to Rs 122.30 at 11:16 IST on BSE on reports the company has acquired a facility of Merck in Switzerland and forged a five-year agreement for peptide products with Merck Biosciences.
The stock hit a high of Rs 125.75 and a low of Rs 120.05 so far during the day. The stock had a 52-week high of Rs 242.35 on
The company’s current equity is Rs 18.13 crore. Face value per share is Rs 10.
The current price of Rs 122.30 discounts its Q4 March 2008 annualized EPS of Rs 21.80, by a PE multiple of 5.61.
Reports added that the acquisition of the CGMP facility of Merck would give Jupiter Bioscience a faster entry into the regulated markets in
Meanwhile, as per an agreement with Jupiter Bioscience, Merck Biosciences would supply about 140 peptide blocks to Jupiter Bioscience. Peptide blocks are finding application in all the therapeutic areas of research. However, the size of the contract and the cost of the acquisition were not disclosed in the report.
Jupiter Bioscience’s net profit rose 13.70% to Rs 9.88 crore on 20.30% growth in net sales to Rs 46.19 crore in Q4 March 2008 over Q4 March 2007.
The company is engaged in manufacturing peptide group products, drug intermediates, and fine chemicals. The group has developed three types of molecules to treat human and animal disease small molecules, antibodies and peptides.
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